New Jersey § 18a:13-71

§ 18a:13-71.

The Commissioner of Education shall review the petition and answers for a determination as to whether or not the petition should be granted, and if so,

the amount of indebtedness, if any, to be assumed by the withdrawing municipality

and the all purpose regional district upon approval of the legal voters of the withdrawing

municipality and the remaining constituent municipalities at a special school election. The commissioner shall consider the effect of the proposed withdrawal upon the educational and financial

condition of the withdrawing municipality and the all purpose regional district and

shall schedule and hold a public hearing on the petition upon the application of any

interested party. In considering the effect of the proposed withdrawal upon the educational and financial

condition of the withdrawing and remaining municipalities , the commissioner shall: a. Consent to the granting of the application; b. Oppose the granting of the application because, if it is granted: (1) An excessive debt burden will be imposed upon the withdrawing municipality and

regional district; (2) An efficient school system cannot be maintained in the all purpose regional district

or the withdrawing municipality without excessive costs; (3) Insufficient pupils will be left in the all purpose regional district to maintain

a properly graded school system; or (4) Any other reason, which it may deem to be sufficient; or c. Request that if the petition is granted, the amount of debt which the regional

district would be required to assume, calculated as hereinbefore provided, be reduced

for the reason that: (1) The amount of indebtedness, together with all other indebtedness of the constituent

municipalities of the all purpose regional district would be excessive; (2) The amount of expenditure for debt service which would be required would be so

great that sufficient funds would not be available for current expenses without excessive

taxation; or (3) The amount of indebtedness is inequitable in relation to the value of the property

to be acquired by the all purpose regional district and would materially impair the

credit of the constituent municipalities of the district, and the ability to pay punctually

the principal and interest of their debt and so supply the essential educational facilities

and public improvements and services that might reasonably be anticipated would be

required of them. The commissioner shall make findings and render a determination within 60 days of the receipt of the petition and answers.